GBP/USD Forecast March 15-19 – BoE Rate Decision In The Spotlight

GBP/USD Technical Analysis

Technical lines from top to bottom:

  • We start with resistance at 1.4210.
  • 1.4113 is next.
  • 1.3972 was tested last week as the pound pushed above the 1.40 line before retreating.
  • 1.3875 is the first level of support.
  • 1.3734 has held since the first week in February.
  • 1.3636 (mentioned last week) is the final support level for now.

I am neutral on GBP/USD

The pound has been making some noise and briefly crossed above the 1.40 level last week. At the same time, the massive Biden stimulus package should give the US economy a lift, which could boost the US dollar. The upcoming BoE policy meeting could have a significant impact on the pound’s direction this week.

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